Is Dimon Settling?

This transcript has been automatically generated and may not be 100% accurate.

... I ... the ... internal why Mary Kissel JPMorgan chief Jamie diamonds ... this morning with Attorney General Eric Holder ... in what looks to be another big government shakedown of another ... big bank when is this going to end ... this is the editorial page editor James Freeman is here to talk to me about this ... I once commanded ... the NT was JPMorgan accused of actually doing wrong ... well there are a number things that are being pulled into the settlement but it basically is related to mortgage backed securities now as you ... peel back the layers ... one of these weren't parts of these big settlement talks ... more deals done by Bear Stearns ... which you remember into thousandeight the government said Jamie Dynan JPMorgan Chase Bear Stearns is failing as the metal is Morgan's mistakes please bought it ... and he said well is lot more interest there out of the doubt that they said well will help you ... will get the Fed to take some of the risk and I'll what he learned later it is ... they were going off road back to JP Morgan by sewing JPMorgan for things that Bear Stearns did ... before the government they JPMorgan them ... by Bear Stearns because it was in trouble they need I say the singer Anita scientists JPMorgan paying its JPMorgan shareholders who are I may need the tens of hundreds of thousands if not millions of Americans as its applauded by Washington and its ... shareholders but lost in these London whale trades ... than they were punished again almost a billion dollars fine by the government for the ... crime of losing in the trading markets as men justice as full of the people who work with a call to arms here in the get the money ... any reason to believe him ... well we look at the Paso was course you've read about the big foreclosure Settlement twenty five billion dollars on anonymously ... the area ... how many of these ... settlements the Does a Big Bank after item especially this big bank ... obviously Mr Diamond has said things that ... the ball off of Washington narrative about regulation and other things ... but it is amazing that big but guy who stay around the crisis to ... be ignored all the government incentives to get into housing didn't ignore all of them but but wisely managed bank so that it wasn't in trouble has now become the number one target in Washington ... for ... the problems of that era it's just it's terrible the other stunning thing is that the guys out on top of the big Citigroup unit that will let ... Jacqueline who is now our Treasury secretary ... of thirty seconds left um ... how how long can this continue ... government plundering ... big banks like this I think this could go on for F and JPMorgan because the consensus is a matter of a strategy that we're starting to settle a patent on ... but I don't think that's the isthe big continue to be successful and profitable this is going to be a ... irresistible honey pot for Washington I think until this into a ... public backlash saying this is not how we operate in the United States yet well who knew that it business to viewers that the cheekily the banks are bad according to the White House and the rest of the cabin ... centered rumor mill had their favorite balances them in for a pigeon are James Freeman ... thanks so much things for ... the president made some remarks about Obamacare this week have a listen ... up but let's face it has been low political the solo ... Obamacare ... and so um what what you said is is an unprecedented effort ... that use the ramp up over last month or so ... in which those who opposed the idea of universal health care ... in the first place in the fall this thing to mail through ... Congress through the courts and so forth ... our have been trying to scare and discourage people ... from getting a good deal ... trying to scare and discourage people from getting a good deal is that really true ... Wonderland Columnist and Henninger joins me now again ... I is this rain forests by the president before these exchanges Goliath and basically ... blow up ... well ... Brayden sense I think they're trying to ... gut it out potential problems married they need all lot of people to sign up for these exchanges or the program doesn't work it's insurance you need a big pool ... and I think they feel that a lot of people all there are reluctant for various reasons to sign up to these exchanges ... and so Obama is trying to put the onus on the Republicans if this fails and I have strong reason to think it's not going to work out is that when it was interesting signal out of the Senate this morning was freezing and Center Democrats until Manchin said ... he would support a one year delay in the individual mandate is that the first sign that the political class even on the left ... Mr. you're worried about the same ... yes I think if it begins to pay all or have big problems on Summly's take the fall to get the blame and Wes for Kenya has been having of problem controversy over the status of the Navigators The people who went for ... individuals and oh one group down there are few weeks ago ... a rescinded a three hundred and sixteen of seven thousand dollar grant ... because they said there had been unforeseen circumstances the West Virginia attorney general is saying ... this is a security disaster waiting to happen with navigators were taking private consumer health information from people ... and the question is for the you can ... protect that information then ... there have been stories about individual saying I don't know whether I wanna talk to these exchanges but I dont wanna wanna wanna convey my health information to them ... so I think some people it's under Mansour bidding to see there could be problems next week and he doesn't wanna get that put the blame for now in your column it basically said let ... ObamaCare go into effect let the American people see with the disaster this is ... in the middle step back and figure out that he wait a second ... all of the other big entitlements that we have ... Medicare Medicaid has been even the public school system ... so don't work either maybe this can be a philosophical reckoning for the American people yes and I think they should be allowed to recognize that the sum total this is the fourth grade in total on Social Security Medicare Medicaid nineteen sixty five and now this this is the biggest most complicated one the company ... seventeen percent of the American economy that's the part that ... deals with health care ... and it's huge it's complicated they are trying to create vast computer programs to talk to each other across five or six of the federal agencies ... and it's really an act of hubris a thing as a bridge too far for American liberalism to think they would of been able to do this and ... if that's true ... I think you for better or worse an entitlement fails the American people got to recognize that these brands all one size fits all economists ... don't work anymore we're gonna have to look at some alternatives the interesting thing Mary is some alternatives are all ready are merging the right alongside them but that's right ... is this a bridge too far for American liberalism well ... we're going to see him in a cease and when Dylan Thomas Dan Henninger thanks so much for being on mission ... when a tiny about the purges in China next state in ... welcome back to Opinion Journal I'm Mary Kissel ... while the world focuses on the main east on Iran's nuclear program the civil war in Syria of people in Egypt ... guess what guys halfway across the world ... there's a massive crackdown on dissent in China ... the project tool for nine senior fellow Kelly Curry here ... to talk about it ... I'm Kelli our viewers probably aren't following this closely and start the on line crackdown ... on who is being targeted and one ... well it's really quiet ride home everybody from a sixteen year old Tom ... twitter Rainbow and ... personhood Hu who was detained by the authorities for tweeting about ... a suspicious death in his community ... on the way up to one of the richest men in China and has a lot of followers on ... tiny sweater called Rainbow ... to what has been detained and charged with on an unrelated crimes ... to get an offer on an off of this platform that has been very popular with the Chinese people so this new way to communicate this is a new threat to add to the Communist Party one party rule ... that there are also other threats ethnic minorities like the Bakken change on that and then for a long time ... what is going on in those communities that we seen a renewed crackdown there as well ... well it's not so much a renewed going as an ongoing one day just continues to mutate and go from bad to worse the scene the use Air ... Marshal ArtTactic's basically ... combined with a very strong push for an economic development ... on this on this belief the scanner Marxist belief that money can solve the problems through material development ... at center pushing and goes to that and in sin John with their ... own ... Adobe cares when ... that this effort to import more Chinese labor into these communities and place the ... minority communities out of their own homely and says you have problems across this huge area of western China ... we've gotten that from the National campaign for Tibet ... Code up ... and it shows the self relations of Tibetans across that wide swath ... from Sichuan doubling the economists region ... do you think that this kind of protests is going to continue ... and if it dies ... when you expect the Chinese leadership ... while the authorities have pushed very hard to stop the self revelations of ... Tibetans to keep them from catching himself lighting themselves on fire as a form of protest ... and they've been effective in stopping that ... but the sentiments that have caused these her riffic events have not gone anywhere near being exacerbated by the policies that are being put in place which are very heavy handed control honestly about thirty seconds left we saw the fall of Bo Xilai of one of the rising political stars crackdown on bloggers crackdown in the ethnic minorities ... was that tell you about ... the the regime in Beijing ... it is there any kind of performed hope you're in a just a throwback to the days of now ... they are using new and sophisticated tactics to basically do what the Communist Party anti has always done which is preserve itself ... preserve itself project two nine two loaf too low for nine CFL ... Kelly Curry thank so much for being on mission ... more to come on Opinion Journal stated ... welcome back to Opinion Journal I'm Mary Kissel it's been called one of biggest comebacks ... in American sports history the victory yesterday of Team Oracle USA ... in the America's Cup ... but my next guest is in curing ... this victory is Hoover Institution Senior Fellow Bill Whalen joining me now from the left Coast ... by billion ... and Larry Ellison you back his team to be a driving sailing ... why what's wrong with this guy ... well ... today I recall ... was caught cheating earlier in the competition to win their trust was putting away from the boat ... and they get funding and fine tune of fifty thousand dollars in debt penalize they continued on ... so this latest injury is married ... yesterday after she Morocco came back from a two to one deficit to win the race ninety days ... you had people on the waterfront sentences go cheering thank you Larry ... I wonder of those same people who go to Yankee Stadium to cheer on a broad received loved it was legal for cheating ... I don't know it boggles the mind down ... about the economic development that this race was supposed to bring the synthesis go ... it was not as advertised ... it's very rosy cuts came after a couple years ago Mary saying that this ... is about triple ... economic impact of the Super Bowl that was based on having fifty boats competing in the stone crabs coming and that ... only four posts post re raised ... so do the math to get about one fourth economic impact ... I think this serves the lessons to cities like steps as the Los Angeles to your Chicago ... winter forever falling in love sports ... in part because the light of running the show but also because it is like that of their chest show that they're great ... because they posed a big sporting event you are hosting the Super Bowl ... serves as the giddiness will soon after that sis is going out bidding for the simple ball championships ... I think there are better ways for cities to improve their lives than just an extensive sporting events ... since last thing on the series that that was a very tragic death in the training ... for this America's Cup ... and when the champion Andrew Bart Simpson ... who unfortunately passed away in May ... does that raise questions about ... the America's Cup were generally been all of the direction stake in the kinds of boats that they're using about thirty seconds left ... yes the sedan sells them as he took a very delicate story which is ocean racing and turn it into something of a Linton as core ... immature at his high speed catamaran subway is dizzying pace is ... all destined to crash into each other and people try hard to see the crash again because one prisoner live so ... close in distance for a lot of ways to avoid the sentences go on this changes or ocean racing and just try to get a hundred million dollars to burn even when America's Cup ... and on the burning fuel and Hoover Institution Senior Fellow Bill Whalen ... thank so much for the view ... of that to their ... followers on Twitter email us at Opinion Journal Live it WS J dot com or you can follow us on Facebook ... I'm Mary Kissel with The Wall Street Journal Editorial board ... thanks for watching ... I ... I ... I ...